• by Chuck Martin , December 3, 2019

Mobile point-of-sale transactions are estimated to reach a value of $1.9 trillion by 2024, according to a new forecast by Juniper Research.

This would be an increase from $850 billion in 2019, driven by service adoption from new business users, including pop-up stores, food trucks and street vendors, where cash payments once dominated.

The annual spending on point-of-sale software by retail and restaurant businesses is expected to reach $1.7 billion in 2024, up from $1.1 billion this year.

China and India are expected to help drive global mobile payment adoption due to the high smartphone penetration rates and growing acceptance of cashless payments.